Following a competitive bidding war, Deadline brings word that Sony Pictures has successfully landed the North American distribution rights to the upcoming Dumb Money film about the 2021 GameStop short squeeze incident, which is being led by Sebastian Stan and Seth Rogen. In addition to handling the film’s U.S. release, Sony has also nabbed the rights in Latin America, Scandinavia, Eastern Europe, South Africa, India, and a handful of Asian markets.
Production is currently underway, with Shailene Woodley officially joining previously announced cast members Pete Davidson and Paul Dano. The outlet notes that more cast members will be revealed soon.
Based on Ben Mezrich’s The Antisocial Network book, Dumb Money will be directed by Craig Gillespie, who is also reuniting with Rogen and Stan after directing them in the acclaimed Hulu miniseries Pam & Tommy. It is written by Rebecca Angelo and Lauren Schuker Blum. Production is expected to begin this October.
“The film tells the story of fortunes won and lost overnight in the David-vs.-Goliath GameStop short squeeze that might have ended up changing Wall Street forever,” reads the synopsis. “It offers a gripping portrayal of how a loosely affiliated group of private investors and internet trolls on a subreddit called WallStreetBets took down one of the biggest hedge funds on Wall Street, firing the first shot in a revolution that threatened to upend the establishment.”
Dumb Money will be executive produced by Michael Heimler, Friedberg, Andrew Swett, Angelo, Schuker Blum, Mezrich, Johnny Holland, and Kevin Ulrich, along with Tyler Winklevoss and Cameron Winklevoss — twin brothers who gained attention for their connection to the making of Mark Zuckerberg’s Facebook. They were famously played by Armie Hammer in The Social Network.
It is also being produced by Gillespie and Teddy Schwarzman for Black Bear, along with Ryder Picture Company’s Aaron Ryder